Elon Musk is investing one billion dollars for a stake in a new media company run by an ally of Donald Trump.
Posted by The Briefing with Jen Psaki, Checked
- Sources
- 7 support
- Said
- 1 time·
- Confidence
- 85%
The Briefing with Jen PsakiOct 23, 2026
Multiple reports dated 2026-10-22 say Elon Musk made a roughly $1 billion investment for a stake in Skydance, which is led by David Ellison, son of Trump ally Larry Ellison; this was true as of the 2026-10-23 post date. The post's "Mega media company" label does not appear in the sources, but the extraction's dropped qualifier is a faithful simplification.
This claim is about the present, so it is judged as of the day it was checked.
What was said
… I mean, we learned today that he's now spent more than 400 million dollars supporting Republicans in the midterms as he tries to buy more control of Congress. We also learned today that he's putting up another billion dollars for a stake in the new Mega media company run by another one of Trump's allies, not because he wants to protect the freedom of press, obviously, because he wants to wield control over the media. He wants to control all the information systems that are out there. …
The Briefing with Jen Psaki · · from the transcriptPost →What we found
Supports. Reuters (via CNBC citing a person familiar) reported Musk made a roughly $1 billion investment in Skydance, with the company led by David Ellison.[1][2][3]
Supports. Semafor's report, cited by LA Times, Yahoo/Independent and others, says Musk invested about $1 billion in Skydance, handing him a stake in the newly formed company that owns CNN and CBS News.[4][5][6]
Supports. Washington Examiner reports Musk reportedly invested $1 billion in Skydance, and identifies Larry Ellison, the father of CEO David Ellison, as an ally of President Trump, which supports the 'ally of Trump' element.[7]
Context. Musk did not comment on the investment, and the reports rest on anonymous sourcing; Skydance and Musk did not immediately respond to requests for comment.[2][7]
Sources
7 sources: 1 fact-checker, 6 not rated
- 1Skydance Corporationreuters.com · fact-checker · cited for: supports
- 2Elon Musk invests about $1 billion in Skydance, CNBC reportsrmb.reuters.com · not rated · cited for: supports, context
- 3Elon Musk invests about $1 billion in Skydance, CNBC ...newsobserver.com · not rated · cited for: supports
- 4Elon Musk invests $1 billion in Skydance, report sayslatimes.com · not rated · cited for: supports
- 5Elon Musk invests $1bn in CNN-owner Skydancefinance.yahoo.com · not rated · cited for: supports
- 6Elon Musk Steps In With $1 Billion Equity Investment For Debt-Laden Skydance — Reportuk.finance.yahoo.com · not rated · cited for: supports
- 7Musk backs Ellison's Skydance with $1 billion investment: Reportwashingtonexaminer.com · not rated · cited for: supports, context
Where this claim was made
Said in 1 published post
Related claims
- Elon Musk could spend up to 120 million dollars this week to help Republicans in midterm elections.Can’t tell
- Elon Musk is putting hundreds of millions of dollars into the next elections.True
- Elon Musk has spent more than 400 million dollars supporting Republicans in the 2026 midterms.True
- Elon Musk has contributed at least 445,000,000 dollars to the Republican effort to keep control of Congress.True
- Elon Musk has initiated his first spending push in midterm races.True